Skip to main content

Market Overview

Faruqi & Faruqi, LLP Announces Filing of a Class Action Lawsuit Against West Marine, Inc.

Share:

NEW YORK, Aug. 16, 2017 /PRNewswire/ -- Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the District of Delaware, case No. 1:17-cv-01036, on behalf of shareholders of West Marine, Inc. ("West Marine" or the "Company") (NASDAQ: WMAR) who have been harmed by West Marine's and its board of directors' (the "Board") alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") in connection with  the proposed merger of the Company with Monomoy Capital Partners ("Monomoy").

Faruqi & Faruqi, LLP. (PRNewsfoto/Faruqi & Faruqi, LLP)

On June 29, 2017, West Marine and Monomoy jointly announced they had entered into an Agreement and Plan of Merger ("Proposed Transaction") under which each outstanding share of West Marine common stock will be exchanged for $12.97 in cash (the "Merger Consideration").  The shareholder vote on the Proposed Transaction is expected to occur on September 12, 2017.

If you wish to obtain information concerning this action or view a copy of the complaint, you can do so by clicking here: www.faruqilaw.com/WMARnotice.

The complaint alleges that the Preliminary Proxy Statement on a Schedule 14A (the "Proxy") filed with the Securities and Exchange Commission ("SEC") on July 24, 2017, violates Sections 14(a) and 20(a) of the Exchange Act because it provides materially incomplete and misleading information about the Company and the Proposed Transaction, including information concerning the Company's financial projections and analysis, on which the Board relied to recommend the Proposed Transaction as fair to West Marine shareholders.

Take Action

Plaintiff is represented by Faruqi & Faruqi, LLP, a law firm with extensive experience in prosecuting class actions, and significant expertise in actions involving corporate fraud.  Faruqi & Faruqi, LLP, was founded in 1995 and the firm maintains its principal office in New York City, with offices in Delaware, California, Georgia, and Pennsylvania.

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from the date of this notice.  Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.  If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact:

Nadeem Faruqi, Esq.
James M. Wilson, Jr., Esq.
FARUQI & FARUQI, LLP
685 3rd Avenue, 26th Floor
New York, NY 10017
Telephone: (877) 247-4292 or (212) 983-9330
E-mail: nfaruqi@faruqilaw.com
jwilson@faruqilaw.com

 

View original content with multimedia:http://www.prnewswire.com/news-releases/faruqi--faruqi-llp-announces-filing-of-a-class-action-lawsuit-against-west-marine-inc-300505394.html

SOURCE Faruqi & Faruqi, LLP

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com